Is HNW tax a trap? It's my strongest skillset (including the soft-skills aspect of dealing with those clients) and I got appoached for a job that focuses more on HNW, but I don't know if it's a good idea to focus in on that direction at my career stage. (I think I'll follow up on the approach anyway because it's not 100% HNW.)

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Definitely not a trap. Provided you enjoy the work and can deal with the people aspect of it, it’s an amazing service line to work in. Your clients have money so it’s typically high realization, lots of research and easy billing, and you can move between big 4, mid tier, small firm, or family offices.

I wish I enjoyed it, but I can’t stand trust and estate work.

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Thank you for this perspective. That's interesting, I had heard elsewhere that HNW wasn't a high margin line of work (but is tax compliance ever?)

Fantastic if you want to stay in client service. Career limiting move if you plan to move to industry at any point in the future. So really all about where you see yourself down the road

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I’d love to be in that group. It’s a perfect plan if you want to open your own office or buy an existing practice.

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All of tax is but I would say it’s not comparatively. Plenty of people in accounting do well with it. But you’re exit OPs are limited to other firms and family offices.

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Thank you. I think I'm OK with those exit options!

It depends on what your end game is. It can be tough to find a good HNW niche in public accounting, but a private family office could be rewarding.

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Yeah I’m in a small midsize firm. Anyone with that experience would be a good fit here. So many returns for the owners of the businesses we prepare Corp & pship returns for. A place like this is a good place to go if you want to be less busy after making manager or senior manager.

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